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Keystone Terminals purchases the 39.5 acre waterfront terminal near the Tallyrand terminal from Norfolk Southern for $8 million

Executive Director Guy Preston represented Norfolk Southern in the transaction

Keystone Terminals purchases the 39.5 acre waterfront terminal near the Tallyrand terminal from Norfolk Southern for $8 million.

The deal closed on Jan. 31.

Norfolk Southern will continue servicing the site, the railroad already services the adjacent Keystone property.

The property has some siloed containers and liquid bulk containers that will likely be torn down, said Guy Preston, executive director at Colliers International Logistics and Transportation Solutions Group. Colliers represented Norfolk Southern in the transaction.

It was a direct sale to Keystone with no one representing the terminal on the buyer's side.

Keystone is one of several private terminal operators in the harbor neighboring Jaxport. Robert Peek, Jaxport's director of marketing and general manager of business development, said the terminal won't likely have a large impact on the port because Keystone focuses on a different product mix.

Keystone handles mostly dry bulk products and aggregates, while the port is focused on containers, autos and break bulk.

Keystone did not respond to request for comment.

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Guy Preston

Executive Director

Jacksonville

As an Industrial Specialist, Guy’s role is to provide his clients with expert and comprehensive advice in Industrial Sales and Leasing; Land Sales; Industrial Investment Sales; Port Site Sales and Leasing; Site Selection and E-commerce Distribution and Fulfillment Center Occupier Services.

One of his outstanding strengths is the ability to problem-solve to propel even the most complicated deals to the finish line.

He is a member of the Colliers International Logistics and Transportation Solutions Group, a practice group dedicated to delivering focused industrial real estate advisory services to better address the global economy. Guy has earned the SIOR Designation. SIOR is a society comprised of the most capable and experienced practitioners, delivering best in class service to clients.

Guy has closed transactions over $400M and in excess of 10M SF, as well as thousands of acres of land.

After graduating from Troy University with an Accounting Degree, Guy completed a four-year tour as a Missile Launch Officer in the United States Air Force. He then began his career in commercial real estate, where he continually strives to provide client centric service.

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